Good Looking - Management - Case Study Example

Running Head: GOOD LOOKING Good Looking Name Institution Date Good Looking 1-Executive Summary: Introduction Good Looking is a convenient hair salon that caters for the hair and grooming needs of the younger generation both female and male ranging from the age of one year through to teen-age high school students. There are many salons in Melbourne such as Sens Amore and Embody salon but these salons cater for the general hair care needs whereas a huge market of the younger Melbourne residents who require a unique approach to how their hair care needs are met are not adequately included in the strategies of these salons. In the youth of Melbourne city, the proprietor of Good Looking sees a huge market segment whose unique grooming needs are not satisfactorily fulfilled by the numerous general and upscale salons within the city as the needs of the young and teenagers need an approach that makes them feel ‘cool’ and requires great customer attention and flexibility. The proprietor of Good Looking realises that this unique segment provides a great opportunity for a salon business and aims to strategically target the young segmented into those who are below five years and those who are of the school going age. With this unique approach, Good Looking aims at acquiring a substantial market share and also to create a salon brand that is ‘the place to be’ for the youth hence establishing long lasting relationships with its unique clientele. The Company Good Looking is a corporation registered in the city of Melbourne and is owned fully by the proprietor. It is located in Melbourne and runs salons in major shopping malls in and around Melbourne city. The proprietor is responsible for hiring the best suited professionals for the business and also for the development of manpower, handling of retail sales and purchases of the Good Looking salons. The proprietor will however recruit a competent receptionist who will be responsible for handling all appointments, on the spot sales transactions, telephone sales and also catering for ‘walk in’ clients. The proprietor intends to develop Good Looking into the best salon for the youth and in consideration of the pursuit of this will be hiring eight highly competent hair stylists to enable the salon fulfill its responsibility to its clients. The hair stylists will be working on an hourly rate but to encourage more dedication and high quality attention to the needs of clients, the proprietor will be implementing a partial commission system where the stylists will be making more money in form of commissions by attending to more clients and those who don’t attend to the clients with dedication hence creating a clientele list for themselves will be making less commissions (Bernard, 1981). This will encourage friendly competition for clients and translate into better service. Good looking will also develop its human resources in terms of training so that it becomes a salon brand that properly caters for the needs of its clients thus becoming the salon of choice for the youth of Melbourne. Services Good Looking provides grooming and hair styling services to the style conscious youth of Melbourne. The services provided include hair cuts for both boys and girls, shampoos, plaiting and braiding for girls. The services are offered on a walk-in basis where our strategically placed premises in all the major shopping malls in Melbourne provide a convenient place for the youth to have their hair care needs attended. Where parents make appointments for their young ones, they will be accordingly scheduled and so will be any appointments made by our teenage clients. Good Looking is centred on taking the needs of the consumers as the major priority and gearing the services of the salon towards satisfying the needs of the customers. The proprietor recognises that teenagers can be quite demanding in consideration of the kind of services they want and the way those services are delivered. Good Looking will as a way of bringing hair products closer to our consumers be stocking them at the salon for the clients to purchase them without having to go to other locations (Bernard, 1981). This minor part of the business is projected to bring in 10% of the total salon sales each year. The Market Melbourne city does not have a shortage of salons as the nature of the market does not restrict new players from getting into the hairstyling industry and exiting as the wish. The fundamental consideration that new entrants to the hair styling industry like Good Looking should consider however is what their staying power is in this cutthroat business. The mistake most of these fledgling hair salons make is thinking that they will come into the market and compete for the same ‘general’ clients with established salons that have been in this business for years. The strategy most players in the industry use is setting up shop and appealing to the general hair styling public to go for their services with the major market segmentation being either by gender or by how much the services cost. The upscale salons target clients who can afford to pay a substantial amount for a hair do while the rest of the salons target everyone else who won’t go or else won’t afford to go to an upscale salon. What this translates into is ease of clients to switch loyalty between salons as everyone seems to be offering the same thing. Good Looking believes that demography is an important market segmentation strategy that salons have failed to employ. In this day and age, most teenage clients do not consider it cool to tag along with their parents for a haircut. The one dimension strategy used by most salons has been unable to stimulate the sort of interest Good Looking intends to stimulate. The market segment we intend to go for is the school going age children and also those who are five years and below through mainly their brothers and sisters and also parents. The strategy that Good Looking intends to use of establishing salons that predominantly target the younger generation is expected to raise the number of clients by a quarter every year translating into an annual growth of 25%. Good Looking is targeting a unique market segment that is further segmented into two: Young males both in primary and secondary schools making up Young girls both in primary and secondary schools Children (boy & girl) before school age (1-5 years old) through their parents and brothers or sisters 1.1 Mission Good Looking’s mission is to provide trendy hairstyling services at competitive prices and at convenient locations to the style conscious and trendy youth of Melbourne. We strive to establish a salon brand that meets the unique needs of the younger Melbourne residents and to make this market segment that has been neglected for long feel valued as customers of hair styling services. 1.2 Objectives Good Looking’s major objectives during the initial 3 years of its activities incorporate: 1. Creation of a service industry corporation that provides great services to its unique youthful clientele and to become the salon of choice for the youth of Melbourne 2. Utilizing the great opportunity of attracting more clients by word of mouth passed on through our clients because school going children provide the best means for spreading the word about an available service and by using this strategy achieve an annual growth of 25% 3. Establishing of a sustainable business that serves the needs of our clients and aims to grow at a rate of two new shops a year, a goal that will not only avail our services to a wider cross section of the Melbourne youth but create jobs 2- Company Summary Good Looking salon soon beginning operations at Epping plaza shopping centre, Melbourne offers hair styling to both male and female school going children and children under five years on appointment or walk-in basis. The salon will grow its clientele by providing unique services to the young. 2.1 Company Ownership Good Looking is a corporation registered in the city of Melbourne and is owned fully by the proprietor (mr/miss name name) 2.2 Start-up Summary Good Looking will acquire the items stated below for start-up: PC applicable in reception area PC and printer in the back office Six cutting stations, each fully equipped with all the essential hair styling A desk applicable in reception area. Four couches applicable in reception area. Display serving the purpose of the shelf for the products on sale Legal fees during the development as well as incorporation in the business Funding for Start-up Funding for Start-up   Start-up operating cost to Fund $1,700 Start-up Assets to Fund $123,300 Total Funding requisite $125,000 Assets   Non-cash property from Start-up $9,460 Cash necessities from Start-up $102,540 Extra money Raised $0 Cash Balance at the Starting Date $102,540 Total Assets $112,000 Liabilities and Capital   Liabilities   Contemporary Borrowing $0 Long-term Liabilities $48,000 Accounts owed (Outstanding Bills) $0 Other Current Liabilities (interest-free) $0 Total Liabilities $48,000 Capital Premeditated Investment   Proprietor $78,000 Total Planned Investment $78,000 Loss at the time of Start-up (Start-up Expenses) ($1,700) Total Capital $75,300 Total Capital and Liabilities $123,300 Total Funding $125,000     Start-up Start-up   Requirements   Start-up Expenses   Legal $1,200 Stationery etc $130 Other $0 entirety Start-up Expenses $1,330 Start-up Assets   Cash Required $102,540 Other Current Assets $0 Long-term Assets $9,460 Total Assets $123,300 Total Requirements $125,000     3- Services Good Looking is a provider of hairstyling services for the younger segment of the market specifically school going age children and those under five. The services we offer include hair cuts for both boys and girls. The services are offered both to walk in clients and to those on appointments. Good Looking also sell hair care products and beauty products for girls. 4- Market Analysis Summary Good Looking targets both boys and girls in primary and secondary schools. We also target children under five through their parents and elder brothers and sisters and we strive to appeal to these two segments distinctively. By doing this, Good Looking is cushioning itself against losses that may affect business should one of the two fail to respond as expected. Market Analysis                 Year 1 Year 2 Year 3 Year 4 Year 5   Potential Customers Growth CAGR Girls in primary and high school 10% 65,000 71,340 78,918 86,578 95,245 10% Boys in primary and high school 11% 48,000 53,300 59,546 65,345 73,897 11% Children under five years 10% 30,000 34,000 39,450 45,235 53,342 10% TOTAL 10.38% 143,000 158,640 177,914 197,158 222,484 10.38%                 4.1 Market Segmentation Good Looking targets generally the young generation but has segmented it into three parts: Boys both in primary and high school will make 45% Girls both in primary school and high school will make 35% The younger children under five are expected to make 20% of the market 4.2 Target Market Segment Strategy Boys tend to have shorter hair hence their requirement for haircuts is more frequent than for girls. Good Looking will target this market by providing timely and convenient services as they make up the biggest percentage of Good Looking’s target market. Good Looking values the trends of the younger girls and will offer the best hairstyles for the younger generation available anywhere in Melbourne. Through investing in the training of its human resources, Good Looking will become a cradle of innovation where new hairstyles are concerned and hence be the place of choice for the younger generation girls who are in touch with their fashion sense. We also target children under five who will make up about 20% of our clients and we will be providing haircuts for these valuable clients and also be providing enjoyable ambience for them as they enjoy our services by providing them with trendy toys so that they can enjoy their time in our premises. 4.3 Service Business Analysis The hair styling industry is diversely segmented with up market hair salons on one end and the traditional barber shops on the other. Within these diverse extremes there exist room for independent stylists and innovative entrepreneurs like the proprietor of Good Looking 4.3.1 Competition and Buying Patterns Good Looking competitors include: Traditional barbershops where clients can get quick hair cuts and hair styling services. These barbershops are inexpensive and attract a wide range of clients but they have the disadvantage of not being appealing to the younger generation. They are viewed as old fashioned and the youth go there for lack of better alternatives. The second category is franchise barbers who are more appealing to a varying range of the hair styling market because their shops are the same and they have a sort of uniformity thus clients can predict what sort of services to expect. There is the third category of independent salons that mainly target a select market niche hence lack a wider appeal. They have the advantage of providing wholesome services which attract loyalty within their market niche. However, they have the disadvantage of their over-focusing on a single niche and may not be able to provide al a customer may want because with changing trends, clients seek variety. 5- Strategy and Implementation Summary Good Looking will use quality customer care services and better services to grow its market segment. Good Looking will be the place to go for the trendiest styles for the style conscious youth. Good Looking’s location at the Epping shopping centre is strategic because of the so many people who usually come at the shopping centre in addition to this location will enable Good Looking to attract clients. Good Looking will also use discounts to attract a large number of clients and also give commissions to its employees to attract the best talent in the hair styling industry. 5.1 Competitive Edge Good Looking realizes that the segment it plans to draw its clientele from is a demanding segment and requires high standards of consumer care. Good Looking realizes that the task that lies ahead is a hard one because of the segment it targets and it is going to take a lot of hard work to make it. We will stand out from our competitors because Good Looking will become a place that appeals to the youth for its unique approach to the business of styling and the ambience provided to our clients will make them identify with good looking. Good Looking will heavily invest in the development of its human resources to become a household name when it comes to innovation in the styling business. By ensuring that our clients get the latest designs and our services are rendered at the highest level of customer satisfaction, we will be building a clientele base that will enable the business to grow. Good Looking will be able to have staying power in the hair styling business in Melbourne. 5.2 Marketing Strategy Good Looking’s first shop will be located at the Epping plaza shopping centre in Melbourne. Good looking aims to have at least ten shops in strategic positions around Melbourne and while Epping plaza shopping center may have higher rates for leasing, the centre provides better exposure than any other location because of its great number of visitors (Cottrill, 1999). Good Looking will be taking advantage of the centre’s popularity as a shopping destination to market its services. Good Looking will be marketed as a hair salon that caters for the hair styling needs of school age children and younger children too. This requires to be implemented by advertising in the newspapers (Møller, 2002), and personal selling to the visitors of the shopping centre. We will also lure the young children we target by having promotions in our shop. We will also discount the rates of our services to the children who refer their friends to our shop. 5.3 Sales Strategy Good Looking will strive to establish a cordial affiliation to the customers clients and to interact with them to show them that Good Looking cares and understands that they have unique needs that it is willing and prepared to fulfill. The employees will approach the clients with professionalism that does not take away the first objective of the salon which is to be a cool place for the youth but that does not jeopardize on the quality of services offered (Bersoff, 2008). 5.3.1 Sales Forecast (for 3 years) During the first month, the proprietor will be hiring and training new employees and also working on the modalities of opening Good Looking’s doors to the public. Good Looking anticipates slow sales in the first quarter of business as this will be the time for attracting its target market and familiarizing them with its unique services just for them (Charles & Geisler, 2000). Starting with the second quarter, Good looking will is expecting a steady growth. Good Looking will also maximize its product sales by familiarizing the clients with the products and encouraging usage. 5.4 Milestones Good Looking anticipates milestones in its early years of operations: 1. Completion of the business plan as a guiding map to the destiny Good Looking aims for 2. Setting up of the first shop at Epping shopping centre and opening a shop every six months 3. Attaining revenue in excess of $250,000. 4. Profitability 6- Management Summary The proprietor is a graduate and is a self driven individual whose determination to pursue her desires is her major driving force. The proprietor is an innovative thinker intrigued by the world of business and management and has experience in press establishment particularly in marketing management for 7 years Her desire to have a business of her own and her love for grooming the younger people which she started with styling her younger siblings brought the idea of a salon fully dedicated to the younger people. Her experience of working at the Epping plaza shopping centre made her realize just how strategic a place it would be for the kind of business she had in mind so she started developing this business plan while still managing working as a marketing manager. Once she was ready to get to the implementation phase of her idea, she tendered her resignation and embarked on making her dream a reality. 6.1 Personnel Plan The proprietor will fully dedicate her time to the management of Good Looking. The proprietor is responsible for hiring the best suited professionals for the business and also for the development of manpower, handling of retail sales and purchases of the Good Looking salons. The proprietor will however recruit a competent receptionist who will be responsible for handling all appointments, on the spot sales transactions, telephone sales and also catering for ‘walk in’ clients. The first Good Looking shop will have a total of eight hair stylists who will on top of their hourly wages be earning a commission for every client they attend. 7- Financial Plan 7.1 Limitations and assumptions Limited capability to find lenders who’d enable me to grow at a faster rate Franchises offering more money to the most qualified hair stylists Lack of enough funds to lease more space at the shopping centre 7.2 Important Assumptions Monthly Break Even Analysis         Year Year2010 Year2011 Year2012 Monthly Revenue $48,333 $55,678 $62,406 Annual Revenue $579,996 $668,136 $748,872           7.3 Future profit plus loss The following is the future profit plus loss account for good looking. Pro Forma proceeds plus Loss (for 3 years) Pro forma proceeds plus loss(annual)         Year   2010 2011 2012 Sales $646,935 $801,735 $891,000 Cost of goods sold $75,933 $97,898 $104,364 Gross margin 90% 90% 90%     Operating income $571,002 $703,837 $786,636     Expenses   Payroll $355,000 $391,000 $396,000 Administrative and general expenses $9,768 $10,890 $11,250 Marketing expenses $8,645 $10,200 $10,560 Licenses and professional fees $20,000 $20,680 $21,200 Insurance $6,650 $7,600 $7,876 Lease and utilities $18,500 $18,760 $19,100 Miscellaneous $3,890 $3,600 $4,100 Payroll taxes $28,780 $29,060 $29,450 Total operating costs $451,233 $491,790 $499,536     Taxes $56,780 $60,650 $62,750 Interest expense $6,478 $7,409 $7,500 Depreciation $5,200 $6,679 $6,900     Net profit $51,311 $137,309 $209,950 Profit margin 16.56% 20.45% 26.06%           7.4 Cost Analysis The following is the cost analysis with Pareto table for Good Looking Cost Center Annual Cost Supplies and hair products $68,000 Salon equipment $30,000 Salaries $385,000 Maintenance $6,400 Shop lease $20,400 Insurance $7,300 Manpower training $8,000 Research $4,500 7.4 planned Cash stream The following is the planned Cash stream for good looking Statement of Cash Flows             Pech and Associates [Time Period] Cash flows from operating activities Cash expected from customers $646,935 Cash paid for salon supplies salon supplies 42,678 Cash paid for wages and other operating expenses 390,867 Cash paid for interest 978 Cash paid for taxes 1,800 Other 870 Net cash provided (used) by operating activities $1,084,128 Cash flows from investing activities Cash expected from sale of capital assets (plant plus equipment, etc.) $0 Cash expected out of disposition of business segments 0 Cash expected from collection of notes receivable 38,967 Cash paid for purchase of capital assets 98,650 Cash paid to acquire businesses 0 Other   Net cash provided (used) by investing activities $137,617 Cash flows from financing activities Cash received from issuing stock $0 Cash expected from long-term borrowings 65,900 Cash paid to repurchase stock 0 Cash paid to retire long-term debt 23,000 Cash paid for dividends 0 Other   Net cash provided (used) in financing activities $88,900 Increase (decrease) in cash during the period $1,310,645 Cash balance at the beginning of season 78,000 Terminating Cash balance $1,388,645 7.5 Projected Balance Sheet This table represents the projected balance sheet for Good Looking Pro Forma Balance Sheet (for 3 years) Pro Forma Balance sheet (Annual)         Year   2010 2011 2012 Assets   Current Assets   Cash $28,965 $99,678 $186,765 Opening Stock of supplies $0.00 $23,643 $26,638 additional Current Assets   Total Current Assets $28,965 $123,321 $213,403 Durable Assets   Long-term Assets $12,300 $12,300 $12,300 Accumulated Depreciation $2,456 $4,653 $7,689 Total Long-term Assets $14,756 $16,953 $19,989 Total Assets $43,721 $116,631 $206,754 Liabilities plus Capital Yr2010 Yr2011 Yr2012 Current Liabilities   Creditors $15,678 $17,345 $24,782 Other contemporary Liabilities   Subtotal Current Liabilities $15,678 $17,345 $24,782 Long-term Liabilities $47,000 $47,000 $47,000 Total Liabilities $62,678 $64,345 $71,782 Paid-in Capital $78,000 $78,000 $78,000 Retained Earnings ($2,310) ($43,267) ($23,278) Earnings ($94,647) $17,553 $80,250 Total Capital ($18,957) $52,286 $134,972 Total Liabilities and Capital $43,721 $116,631 $206,754 Net Worth ($69,883) $186,470 $421,976           7.6 Business Ratios Ratio Analysis (for 3 years) Ratio Analysis             Year 1 Year 2 Year 3 industry profile Sales Growth 0.00% 102.00% 28.00% 8.90% Percent of Total Assets   additional Current Assets 0.00% 0.00% 0.00% 37.64% Total Current Assets 81.00% 96.89% 98.87% 48.85% Long-term Assets 24.69% 6.67% 2.87% 51.89% Total Assets 100.00% 100.00% 100.00% 100.00% Current Liabilities 43.69% 18.81% 12.86% 34.67% Long-term Liabilities 189.00% 57.28% 34.17% 28.64% Total Liabilities 219.67% 70.74% 40.62% 56.72% Net Worth -115.68% 29.78% 58.70% 45.65% Percent of Sales   Sales 100.00% 100.00% 100.00% 100.00% Gross Margin 81.00% 81.00% 81.00% 0.00% Selling, General & Administrative   Expenses 118.89% 73.67% 70.74% 75.84% Advertising Expenses   Profit Before Interest and Taxes -32.69% 17.87% 19.65% 4.34% Main Ratios   Current 0.54 0.46 0.45 2.50% Quick 1.67 6.73 8.78 1.87 Total Debt of the Total Assets 1.67 6.73 8.78 1.56 Pre-tax Return on Net Worth 287% 320.56% 98.57% 6.45% Pre-tax Return based on Assets -298.64% 88.74% 59.67% 14.46% Additional Ratios Year 1 Year 2 Year 3   Net Profit Margin -30.46% 11.74% 12.78% n.a Return on Equity 0.00% 243.67% 87.56% n.a Activity Ratios   Accounts owed Turnover 8.54 12.56 12.67 n.a Payment Days 28 28 30 n.a whole Asset Turnover 11.67 7.87 3.28 n.a Debt Ratios   Debt to Net Worth 0 2.67 0.9 n.a Current Liab. to Liab. 0.22 0.24 0.26 n.a Liquidity Ratios   Net Working Capital $14,675 $98,768 $198,786 n.a Interest Coverage -16.67 16.13 18.76 n.a Additional Ratios   Assets to Sales 0.07 0.24 0.26 n.a Current Debt/Total Assets 45% 18% 9.00% n.a Acid Test 1.6 5.67 9.45 n.a Sales/Net Worth 0 20.06 6.2 n.a Dividend Payout 0 0 0               8- Appendix Sales Forecast Sales forecast           Year 1 Year 2 Year 3 Sales   Girls in primary and high school $280,956 $368,876 $422,645 Boys in primary and high school $270,836 $310,986 $324,450 Children under five years $65,469 $79,254 $98,768 Sale of beauty and hair care products $29,674 42,652 $45,137 Total sales $646,935 $801,768 $891,000 Direct cost of sales   Girls in primary and high school $45,673 $54,345 $56,789 Boys in primary and high school $14,457 $18,876 $20,345 Children under five years $5,347 $8,023 $8,765 Sale of beauty and hair care products $10,456 $16,654 $18,465 Sub-total of Direct cost of sales $75,933 $97,898 $104,364           Personnel Plan Personnel Plan           Year 1 Year 2 Year 3 Proprietor $48,000 $53,000 58,000 Receptionist $20,000 $23,000 $23,000 Hair stylist $41,000 $45,000 $45,000 Hair stylist $41,000 $45,000 $45,000 Hair stylist $41,000 $45,000 $45,000 Hair stylist $41,000 $45,000 $45,000 Hair stylist $41,000 $45,000 $45,000 Hair stylist $41,000 $45,000 $45,000 Hair stylist $41,000 $45,000 $45,000 Hair stylist $41,000 $45,000 $45,000 Total Payroll   355,000 391,000 396,000 General Assumptions General Assumptions           Year 1 Year 2 Year 3   1 2 3 Plan Month 12.00% 12.00% 12.00% Current Interest Rate 12.00% 12.00% 12.00% Long-term Interest Rate 25.00% 25.00% 25.00% Tax Rate 0.00% 0.00% 0.00% Other         Break even Analysis Breakeven Analysis GOOD LOOKING SALON Cost Description Fixed Costs ($) Variable Expenses (%) Inventory or Materials $5,456 0.0 Other expenses $150 0.2 Salaries (includes payroll taxes) $29,500 1.5 Supplies $6,000 2.0 Repairs & maintenance $80 0.0 Advertising $120 0.5 Accounting and legal $455 0.0 Rent $2,200 0.0 Telephone $250 0.0 Utilities $300 0.5 Insurance $180 0.0 Taxes (Real estate, etc.) $200 0.0 Interest $65 0.0 Depreciation $90 0.0 Other(Children; toys) $60 0.2 Miscellaneous expenses $130 0.0 Principal portion of debt payment $85 0.0 Owner's draw $160 1.0 Total Fixed Expenses $ 45,481 Total Variable Expenses     5.9 Breakeven Sales level = 48333 Competitive Analysis using Swot100 The Strengths, the Weaknesses, the Opportunities, plus Threats Analysis Strengths My Company Competitor 1 Competitor 2 Competitor 3 What are your business advantages? market niche capable of loyalty to brand, location uniformity from being an established franchise up market location hence closer to client's homes longevity in the hair styling industry What are your core competencies? superior customer care and creative workforce, innovation superiority in sales of hair care products better suited to serve girls due to the rapport created with their parents known for competence in male hairstyles Where are you making the most money? girls hair styles female hairstyles female hairstyles male hair styles What are you doing well? customer service and word of mouth advertising standardizing services segregating market to take the upper class clientele pursuing their traditional male clientele Weaknesses         What areas are you avoiding? up market segment appearance of seeming to target a particular segment youth market so they don’t loose their older female clients sale of hair care products Where do you lack resources? under five children play area n.a children entertainment girls styling What are you doing poorly? sales of products children styling children styling children styling Where are you losing money? high utility bills high lease high lease high lease What needs improvement? ambience of the shop customer service serving children customer service Opportunities         Any beneficial trends? growing acceptance of more pronounced hair styles growing demand for hair care products none none Niches that competitors are missing? adults young girls young girls young boys New technologies? new hairstyling equipment new hairstyling equipment new hairstyling equipment new hairstyling equipment New needs of customers? keeping up with the newest styles better hair care products better customer services keeping up with the newest styles Threats         Obstacles to overcome? building a lasting brand poor customer service perception of being expensive perception of substandard services Aggressive competitors? established franchises n.a established franchises established franchises Successful competitors? up market salons fellow franchises established franchises established franchises Negative economic conditions? world economy recovering from a general decline world economy recovering from a general decline world economy recovering from a general decline world economy recovering from a general decline Government regulation? licenses and raised taxes licenses and raised taxes licenses and raised taxes licenses and raised taxes Changing business climate? growing youth market due to high references loosing younger clients changing trends in ladies styling loosing younger clients Vulnerabilities? expansion of franchises into the shopping malls coming in of another franchise expansion of good looking to up market areas coming in of another franchise References Bernard, B., (1981). Feasibility study of a new business, N Y, Sage Publishers Bersoff, D., (2008). Ethical conflicts in Business. Washington, DC: American Psychological Association Charles, C. & Geisler, G., (2000). Project Management, Washington: Island Press Cottrill, K., (1999). "Business as Usual?" Traffic World, August 2, p. 31. Møller A., (2002). ”West Africa Service," Journal of Commerce Week, September 16, p. 10. Read More